Turkey

We need more people with the courage, vision and skills to lead enterprises that make an impact not just in Turkish markets but also globally.Vuslat Doğan Sabancı, CEO, Hürriyet; Endeavor Turkey Board Member

Country Snapshot

According to Turkey’s 2006 Global Entrepreneurship Monitor (GEM) survey results, only six out of every 100 adults in Turkey are pursuing entrepreneurial careers – the lowest entrepreneurship rate among comparable developing countries. Those that do find the courage to pursue their entrepreneurial dreams face typical emerging market challenges, including complicated bureaucracy and limited access to financial capital, strategic advice, and relevant networks. Turkey’s need for a strong entrepreneurial sector is clear. Over 12 million youth aged 15-24 are entering the workforce and, according to Turkey’s 2008 UN Human Development Index Report, Turkey will need to create an estimated 13 million new jobs by 2010 in order to achieve a 70% employment rate.

Endeavor Turkey’s challenge is three-fold: 1) mobilize business sector resources to systematically help entrepreneurs with high-impact potential effectively overcome growth obstacles, 2) promote the success stories of these entrepreneurs to inspire and motivate the next generation of high-impact entrepreneurs, who will in turn create more jobs, and 3) prepare the next generation of potential entrepreneurs to identify opportunities and execute ideas.